The Wired Cars of the 2012 Paris Motor Show

There's a bipolar vibe at the biennial Paris Motor Show. Automakers are putting on a strong face as they roll out a combination of ambitious concepts and tepid compacts while the European car market erodes beneath their feet.

The mood in Europe is much like it was in Detroit a few years ago, when the Big Three were threatening to become the Medium Two and automakers went hat in hand to Washington looking for help. Nearly every automaker at the show is feeling the pain. Overall, European sales dropped 8.5 percent last month, the 11th consecutive monthly decline with no end in sight.

The combination of labor unrest, plant closures, deep discounts, and massive operating losses are all conspiring against an industry that was plagued with plunging demand to begin with. Ford is projecting a $1 billion loss in Europe this year alone, but that pales in comparison to the $16.8 billion in losses General Motors has racked up with its Opel and Vauxhall brands since 1999. There's even talk of bailouts for some of the smaller companies.

Still, the industry tried to put on a happy face for the show, and there are some cool things to see. Electrics and hybrids are still en vogue, and everyone's pushing fuel economy. There are fewer outrageous concepts and -- gasp! -- only one 800-plus horsepower supercar, underscoring the tough times across the pond.

Here are the most important, intriguing and outrageous cars, straight from the Paris Auto Show floor.

McLaren P1

Let's start on a high note with the McLaren P1. Twenty years after all 100 examples of the legendary, center-seated F1 were sold, McLaren is back with another range-topping supercar that has enough presence and visual drama to make even the wildest of Paganis pale in comparison.

With a name that's a not-so-subtle nod to its nearly 200 Formula One victories in almost five decades of racing, the P1 will reportedly have at least 600 horsepower per ton, which could have it knocking on the door of 1,000-hp mark when it lands on roads next year. The Bugatti Veyron finally has something to look out for in its rearview mirror.

While McLaren is remaining mum on exact engine details, there's talk of everything from a twin-turbo V8 (a modified version of the MP4-12C's mill) to a F1-derived V12. But the smart money is on some kind of hybrid drivetrain, with two electric motors putting out around 150 hp a piece to the front wheels, similar to what Porsche is doing with the 918 Spyder.

But for now, the real story is the shape. With ducts, inlets, fins and even a snorkel for the engine, the P1 will suck down more air than an asthmatic Orca, producing over 1,300 pounds of downforce before it even comes close to its 200+ mph top speed.

Lacking an engine and interior, McLaren says it's only a design study for now, but the automaker reassures us that almost all of the exterior elements will make it to production when it begins selling a limited batch of 500 P1s in 2013. But don't expect a center-seat arrangement like its '90s predecessor.

Mercedes-Benz SLS AMG Coupe Electric Drive

Another new supercar is due to debut next year, and if it looks familiar, that's because you've already seen one iteration of this all-electric SLS before.

The original Mercedes-Benz SLS AMG E-Cell debuted in 2010, but for Paris, it's ditched the eye-searing neon yellow paint for a more retina-friendly – if equally obnoxious – blue chrome color scheme, and a new name: the SLS AMG Coupe Electric Drive. Rolls off the tongue, right?

Lame name aside, the SLS eschews its standard snorting and barking V8 for four electric motors mounted at each corner, good for a total of 740 HP and 737 pound-feet of torque in sum. That's good for a 0-to-60 mph blast of 3.9 seconds, and if you're light enough on the throttle, you'll be able to run a little over 155 miles before the juice from the 60 kWh lithium ion batteries runs out.

The real killer feature of this particular drivetrain is the ability to manipulate the torque output at each individual wheel, dialing in just the right amount of twist to eliminate understeer and oversteer, and keep the massive (and undisclosed) curb weigh in check.

Mercedes promised that the SLS EV would go on sale in 2013, and they've delivered on their promise. Preorders are now available – assuming you have the 420,000 euros, or around $540,000.

Ferrari F70

No, Ferrari hasn't gone to the illogical extreme to make its next supercar the lightest; it's simply showing off the all carbon-fiber monocoque that's due to underpin the Enzo's successor.

Rumors have been running rampant about Ferrari's next flagship, and to stem the tide – or keep the hype flowing – the automaker trotted out the cockpit for what's been internally dubbed the F70.

Kevlar and four types of carbon fiber are used to make this new tub, all of which is hand-laid before it's sent into the autoclave. That makes it 20 percent lighter and 27 percent stiffer than a traditional aluminum tub, and when partnered with the hybrid electric drivetrain, the F70 will supposedly be good for a 0-to-60 mph time of under two seconds. Supposedly...

If there's any problem with the Panamera (aside from the fact that it's a four-door, front-engined Porsche), it's the slightly irritating lack of rear headroom. So Porsche figured it would rectify the matter, while giving its sedan an extra dose of practicality to boot. Specifically, in the boot.

Exchanging the sloping hatchback for a more upright, shooting brake design, the Sport Turismo Concept is the blending of sedan and Cayenne that keeps Porsche purists up at night.

The drivetrain is an evolution of the Panamera S Hybrid's system, with a supercharged, 333 HP V6 partnering with a 95-HP electric motor to deliver over 400 ponies to the ground. You can run on electric power alone up to 80 mph, and with a new plug-in charging port, you can top up the batteries yourself for all-electric blasts around town.

BMW Concept Active Tourer

If a Porsche wagon is enough to give enthusiasts an aneurysm, then a front-wheel-drive BMW should make their collective heads explode. But that's exactly what the boys from Bavaria brought out in Paris in the form of the Concept Active Tourer.

Part 1 Series replacement, part city car with style, the Active Tourer is built atop a new architecture that's destined to underpin both a new line of BMW products and also the next generation of Minis (which BMW owns and develops).

In this guise, the five-door comes packing a turbocharged, 1.5-liter three-cylinder based on BMW's new modular engine design, and a new plug-in hybrid system. All told, the CAT puts out 190 HP and 147 lb-ft of torque to the front wheels, making it the perfect European competitor to the Mercedes-Benz A- and B-Class. But don't expect it to make the trek across the Atlantic.

Audi Crosslane Concept

Sticking with the Germans, Audi is showing off a crossover concept that's part coupe and part convertible, and far from feasible.

With a rearrangeable seating setup that allows it to transform from a two- to four-seater, along with a removable roof for midnight blasts through the Baja, the Crosslane is about as realistic as a Korean pop star receiving worldwide notoriety for singing about a particular breed of style. Oh, wait....

Regardless, power is supplied by another turbo'd 1.5-liter three-cylinder engine (seeing a downsizing theme here?), which is combined with an electric motor and plug-in hybrid system to output 176 HP, run to 60 mph in around 8.5 seconds and tool around town on electricity alone for about 50 miles. It's an odd bit of styling whimsy from the Germans, but expect this powertrain combination to make it to market in the very near future, and bits of the exterior to form the basis of an all-new compact crossover likely dubbed the Q2.

Peugeot Onyx Concept

Like Audi, Peugeot has done next to nothing to capitalize on its LeMans-bred technology. But the French automaker is attempting to rectify that with what's easily the wildest concept to land on the Paris Auto Show floor.

It's called the Onyx, and it's a bizarrely attractive super coupe coated in flat black with copper accents, and packing a hybrid drivetrain that could give the Toyota Prius a run for its money in the fuel economy game.

With the same 3.7-liter twin-turbocharged diesel V8 pulled from its LeMans racer mounted in the middle, the Onyx puts out 600 HP to the rear wheels through a six-speed sequential gearbox. Want more go? An electric motor paired with a lightweight battery pack provides an extra 80-HP boost on demand. And with a curb weight of only 2,400 pounds, it manages around 50 mpg – or about the same as Toyota's hybrid hatchback. If that's not green enough for you, the wood-lookalike dashboard trim is made from recycled newspapers.

Lexus LF-CC Concept

Here's something slightly more down-to-earth, assuming you can look past the visual flourishes and insane wing mirrors. It's called the LF-CC, and if you're wondering what the next Lexus IS will look like, here's your opportunity.

The IS is one of Lexus' best-selling models. It's the entry point into the brand and it's very overdue for a refresh, particularly given that nearly every other vehicle in the Lexus lineup has already adopted the redesigned "spindle" grille. We still maintain it looks like the Predator on a bad day.

The LF-CC has shades of the Toyota FT-86 in the swage line and haunches, and is proof that after years of avoiding the entry-level sports coupe segment, Lexus is about to get serious with a two-door (awkward and ugly convertible notwithstanding). And just as importantly, the new IS will bring with it a new engine in the form of a 2.5-liter, direct-injected four-cylinder that should keep pace with its German rivals.

Smart Forstars Concept

Paris is one of the few cities where the Smart brand makes sense, so it's fitting that Daimler's mini-car division unveiled its latest concept in the City of Lights.

While the Forstars Concept is some 30 inches longer than the current ForTwo ultra-compact, it's also wider, making it almost like a real car.

Power is provided by a hybrid electric drivetrain good for 81 HP and 100 lb-ft of torque, and if the styling isn't enough to get you noticed, the movie projector mounted on the bumper and speakers aft of the doors should be a hit at parties. Sad, sad little parties.

Nissan Terra SUV Concept

The Nissan Terra concept isn't much of a looker, with a mixture of organic, linear and overwrought shapes, but the drivetrain is far more ambitious.

It's an all-electric off-roader, with the front wheels driven by the same EV drivetrain from the Nissan Leaf, while the rear hoops get power from a pair of electric motors connected to a hydrogen fuel cell. It has no cohesive hydrogen infrastructure in place, but Nissan claims the Terra is a suitable compromise, allowing the front wheels do to all the heavy lifting with the battery pack juiced up, and the rear, hydrogen-powered wheels only being employed when traction is limited. Considering Nissan is hoping to have its first fuel-cell vehicle on the road by 2015, the Terra could be a clear indication of what direction it's headed, even if the form doesn't quite follow the function.

Jaguar F-Type

Jaguar has finally given the people what they want: a more affordable coupe/convertible that has a bead drawn on the bumper of the Porsche Boxster.

The F-Type is easily one of the most stunning machines to come out of Paris, with a design that blends traditional Jaguar cues up front with a more stylized, forward-thinking rear end that draws inspiration from the C-X16 concept from Frankfurt.

Motivation is provided by a choice of either V6 or V8 power, both of which are supercharged, with the former putting out 380 HP in the standard model and the latter nearing the 500 HP mark in S guise.

Sales are set to begin early next year with a base price of around $70,000.

Espera Sbarro Eight Concept

Here's definitive proof that you don't need to be a tier one automaker with the budget of a small island nation to create something awesome. This is the Eight Concept, and it's the product of the Espera Sbarro Montbéliard School of Design.

Why name it the 'Eight'? Two reason: First, it's powered by a V8 engine pulled from a Maserati, and second, the student builders put this neo-rat rod together in a scant eight weeks.

In addition to the 360-HP Italian powerplant, Android runs the majority of the vehicles functions, from the Parrot Asteroid in-dash receiver with a 6.2-inch screen to the tablet that acts as the driver's instrument panel. It's a testament to what a focused band of students can put together, and it's hands-down wins our Best of Show.